Ebos Group Limited · NZX:EBO
Ebos — H1 FY20 Earnings Presentation
28 slides from Ebos's earnings presentation, Feb 20, 2020
Slide 1: Investor Presentation: Interim Financial Results
For personal use only INVESTOR PRESENTATION INTERIM FINANCIAL RESULTS Half year ended 31 December 2019 20 February 2020
Slide 2: Disclaimer
DISCLAIMER The information in this presentation was prepared by EBOS Group Ltd (EBOS) with due care and attention. However, the information is For personal use only supplied in summary form and is therefore not necessarily complete, and no representation is made as to the accuracy, completeness or r
Slide 3: Group Financial Results
For personal use only Group Financial Results
Slide 4: H1 FY20 Summary Results
H1 FY20 SUMMARY RESULTS1 For personal use only Revenue Statutory EBITDA Statutory NPAT $4.4b up 25.2% $167.2m up 36.4% $81.7m up 21.8% Underlying EBITDA2 Underlying NPAT2 $149.0m up 13.4% $84.2m up 15.8% Statutory EPS ROCE Dividends per share 50.6c up 14.8% 15.9% 37.5c up 8.7% (NZ$) consistent with
Slide 5: Strategic Highlights
STRATEGIC HIGHLIGHTS Group revenue increased by 25.2% evidencing the strength of our portfolio of businesses with a substantial uplift in Pharmacy Wholesale and strong performances from TerryWhite Chemmart, For personal use only Institutional Healthcare and Healthcare Logistics The Australian whol
Slide 6: H1 FY20 Financial Performance
H1 FY20 FINANCIAL PERFORMANCE Significant revenue increase of 25.2% For personal use only A$m H1 FY20 H1 FY19 Var$ Var% primarily due to growth in Pharmacy Underlying Results ¹ Wholesale, TerryWhite Chemmart, Revenue 4,376.1 3,496.5 879.6 25.2% Institutional Healthcare and Contract Gross Operating
Slide 7: Healthcare Results
For personal use only Healthcare Results
Slide 8: Healthcare Segment
HEALTHCARE SEGMENT Significant growth in Australia from a strong underlying trading performance For personal use only Australia’s growth in revenue of 30.9% and A$m H1 FY20 H1 FY19 Var$ Var% Underlying EBITDA of 22.3% was driven by the Revenue 4,165.5 3,304.2 861.3 26.1% performances of our Pharma
Slide 9: Community Pharmacy
COMMUNITY PHARMACY For personal use only Pharmacy revenue increased by $670m and A$m H1 FY20 H1 FY19 Var$ Var% GOR by $31m due to increased wholesale volumes in both Australia and New Zealand. Revenue 2,561.9 1,892.2 669.7 35.4% GOR 221.4 190.6 30.8 16.2% The pharmacy business benefitted from: G
Slide 10: TerryWhite Chemmart
TERRYWHITE CHEMMART Continued growth in one of Australia’s leading community pharmacy networks For personal use only 16 new pharmacies 5.7% network joined the network sales growth In the last six months, we welcomed 16 new pharmacies to With prescription sales growth of Repositioning the brand under
Slide 11: Institutional Healthcare
INSTITUTIONAL HEALTHCARE For personal use only Revenue growth of 9.1% was driven largely A$m H1 FY20 H1 FY19 Var$ Var% from increases in new specialty medicines, Revenue 1,252.3 1,147.8 104.5 9.1% combined with strong growth in the medical consumables sector and the acquisition of GOR 109.4 101.8
Slide 12: Contract Logistics
CONTRACT LOGISTICS For personal use only An active business development focus led to GOR growth of 21.5% as the business A$m H1 FY20 H1 FY19 Var$ Var% continues to drive growth and profitability Revenue 346.4 241.9 104.5 43.2% as customers join our new facilities. GOR 39.3 32.3 7.0 21.5% Note: GOR
Slide 13: Consumer Products
CONSUMER PRODUCTS For personal use only Consumer Products performance was affected by softer overseas demand for our products, A$m H1 FY20 H1 FY19 Var$ Var% reflective of the changes which have impacted Revenue 57.9 59.6 (1.7) (2.9%) the daigou export channel. GOR 19.7 23.2 (3.5) (15.0%) We have
Slide 14: Animal Care Results
For personal use only Animal Care Results
Slide 15: Animal Care Segment
ANIMAL CARE SEGMENT Strong Revenue and Underlying EBITDA performance reflecting continued growth in our key brands For personal use only Underlying EBITDA and Underlying EBITDA % A$m H1 FY20 H1 FY19 Var$ Var% Revenue 210.6 192.3 18.3 9.5% Underlying EBITDA 25.7 24.3 1.4 5.7% Underlying EBITDA% 12.20
Slide 16: Continued Growth From Our Brands
CONTINUED GROWTH FROM OUR BRANDS Both our Black Hawk and Vitapet brands continue strong growth rates For personal use only Black Hawk sales grew 9.7% due to: Strong consumer support for our products. Continued investment in marketing to drive increased brand awareness and retail support. Mai
Slide 17: Group Financial Information & Outlook
For personal use only Group Financial Information & Outlook
Slide 18: Cash Flow
CASH FLOW For personal use only A$m H1 FY20 H1 FY19 Var$ Var% Statutory Cash Flow including IFRS 16 Leases EBITDA 167.2 122.6 44.6 36.4% Net interest paid (15.4) (12.4) (3.1) Tax paid (32.6) (25.7) (6.9) Net working capital and other movements (45.0) (44.3) (0.7) Cash from Operating activities 74.2
Slide 19: Working Capital and ROCE
WORKING CAPITAL AND ROCE Working Capital 1 Return on Capital Employed 1 For personal use only A$m Dec 2019 June 2019 Net Working Capital Trade receivables 1,069.6 865.7 Inventory 728.7 723.5 Trade payables/other (1,462.1) (1,307.3) Total 336.2 281.9 Cash conversion days2 Debtor days 43 43 Inventory
Slide 20: Net Debt and Maturity Profile
NET DEBT AND MATURITY PROFILE Net Debt and Net Debt : EBITDA ratio 1 Debt Maturity Profile – facility limits 1 For personal use only Net Debt1 of $392m at December 2019, At 31 December 2019, gross drawn debt1 was with a Net Debt : EBITDA1 ratio of 1.41x $666m or 64% of total facility limits. (1.
Slide 21: Earnings and Dividends Per Share
EARNINGS AND DIVIDENDS PER SHARE Underlying Earnings Per Share (A$ cents) Dividends Per Share (NZ$ cents) For personal use only Underlying EPS of 52.2 cents representing growth of 9.1% in H1 FY20. Interim dividend of 37.5 cents (imputed to 25% and franked to 100% for Australian resident sharehol
Slide 22: FY20 Outlook
FY20 OUTLOOK Trading for the first half of FY20 was in line with our internal expectations and we reconfirm the For personal use only Group is confident of a significant increase in earnings in the current financial year. We have not seen any significant impact to the Group as a result of the co
Slide 23: Supporting Information
For personal use only Supporting Information
Slide 24: H1 FY20 Reconciliation of Underlying and Statutory Earnings
H1 FY20 RECONCILIATION OF UNDERLYING AND STATUTORY EARNINGS For personal use only H1 FY20 H1 FY19 Underlying¹ IFRS16 M&A One-off Statutory A$m H1 FY20 H1 FY19 Var$ Var% Impact costs costs H1 FY20 H1 FY19 Var$ Var% Group Income Statement Revenue 4,376.1 3,496.5 879.6 25.2% - - - 4,376.1 3,496.5 879.6
Slide 25: Reconciliation of Underlying and Statutory Net Assets for IFRS 16 Leases
RECONCILIATION OF UNDERLYING AND STATUTORY NET ASSETS FOR IFRS 16 LEASES For personal use only Net Assets as at 31 December 2019 Pre IFRS 16 lease adjustment IFRS 16 Statutory A$m 31-Dec-19 impact 31-Dec-19 Current assets 2,136.9 2,136.9 Non-current assets 1,424.0 298.1 1,722.1 Current liabilities (
Slide 26: Segment Earnings and GOR Mix
SEGMENT EARNINGS AND GOR MIX EBITDA by segment Gross Operating Revenue (GOR) H1 FY20 For personal use only A$m H1 FY20 H1 FY19 Var$ Var% Statutory EBITDA 13% Healthcare 145.8 104.3 41.6 39.9% 87% Animal Care 28.5 24.3 4.2 17.2% 13% Corporate (7.1) (6.0) (1.1) (18.2%) Group 167.2 122.6 44.6 36.4% 5%
Slide 27: Glossary of Terms and Measures
GLOSSARY OF TERMS AND MEASURES Except where noted, common terms and measures used in this document are based upon the following definitions: Term Definition Debtor days Trade debtors at the end of period divided by Revenue for the period, multiplied by number of days in the period. For personal use
Slide 28: www.ebosgroup.com
For personal use only www.ebosgroup.com